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On January 20, Zhenro Properties Holdings Limited announced that the companys actual controller, Ou Zongrong, has been taken compulsory measures in accordance with the law for suspected illegal crimes. At present, Ou Zongrong does not hold any position in the company, including director, supervisor, senior management, etc.January 20th news: In 2024, the 19 provinces and cities that provide counterpart assistance to Xinjiang will focus on areas such as peoples livelihood and arrange nearly 20 billion yuan in assistance funds to Xinjiang.German Geoscience Research Center GFZ: A 5.6-magnitude earthquake occurred in Mindoro Island, Philippines.On January 20, Ouke Technology announced that from January 1, 2024 to December 31, 2024, the estimated operating income is 412 million yuan to 452 million yuan, compared with 332 million yuan in the same period last year, an increase of 24.06% to 36.09% year-on-year. The net profit attributable to shareholders of the listed company is expected to be 25.4756 million yuan to 37.4756 million yuan, compared with 114 million yuan in the same period last year, a year-on-year decrease of 67.11% to 77.64%. The net profit after deducting non-recurring gains and losses is expected to be 9.2115 million yuan to 21.2115 million yuan, compared with 38.5453 million yuan in the same period last year, a year-on-year decrease of 44.97% to 76.10%. Basic earnings per share are expected to be 0.3821 yuan/share to 0.562 yuan/share, compared with 1.71 yuan/share in the same period last year.Dongwei Semiconductor: The company expects to achieve a net profit attributable to the parent companys owners of 32 million to 47 million yuan in 2024, a year-on-year decrease of 66.43% to 77.15%.

The USD/CHF exchange rate surges above 1.0060 as the risk-off sentiment regains dominance

Alina Haynes

Oct 20, 2022 15:21

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The USD/CHF pair reversed its minor decline from 1.0063 at the start of the Asian session and resumed its climb. Prior to the risk-on profile losing momentum, the asset exhibited a juggernaut rally to approximately 1.0063.

 

After two consecutive days of gains, a slight dip in the S&P 500 diminished investors' appetite for risk and drove demand for safe-haven assets. The US dollar index (DXY) oscillates slightly below the immediate barrier of 113.00 and appears on the verge of breaking through. In addition, 10-year US Treasury rates have reached a 14-year high of 4.14 percent as bets on a greater rate hike by the Federal Reserve have increased (Fed).

 

Regarding the Swiss franc, investors anticipate the release of the Trade Balance data. It is projected that the economic statistics will climb to 3,558M from 3,425M in the previous report.

 

The road map presented by James Bullard, president of the St. Louis Fed Bank, suggests that the central bank would maintain its hawkish stance for an extended length of time. Fed policymakers expect the central bank to raise interest rates by an additional 75 basis points (bps) when it meets on November 1 and 2, with a second 50 or 75 bps increase likely in December. Before relying on statistics, he highlighted that the Fed must first identify the proper rate level.

 

Despite some signs of slowing in certain areas, the Fed's Beige Book reported that price rises remained elevated. Therefore, price pressures remain a cause of concern. While the price of fuel and transportation has reduced, the cost of inputs for businesses has climbed. Labor demand is low due to firms' unwillingness to raise payrolls in expectation of an economic recession.

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